- Wave of Debt Payments Facing US Government
- US Job Losses to Bottom out Next Quarter: NABE
- Obama Jobs Forum May Be More Political Than Practical
- Late Payments on Credit Cards Drop in Third Quarter
- Smallest US Businesses Borrowing Again: PayNet
- China Asks Its Banks to Slow Down Lending
- Little Sign of Inflation on the Horizon: IMF
- Suze Orman’s 'A Healthier, Wealthier You'
- Cadbury Hits New High as Bidders Circle
- HP to Feed on Enterprise Spending Next Year: Tech Analyst
- This Holiday Season—Little Joy For Those Hard Hit
- Busch: Markets Smell a Country Rat
- Schork Oil Outlook: Mission Impossible For The Bears?
- S&P Stocks Trading at New 52-Week Highs
- Losey: Asset Allocation At Retirement
- Farrell: Obama Hectored, Ignored and Restricted?
- Don't Dwell on Investment Mistakes; Move on, Like Buffett
- CNBC VIDEO: Warren Buffett & Bill Gates 'Walk & Talk' at Columbia University
MOST SHARED
- Existing-Home Sales Jump To Highest Level in 2-1/2 Years
- Wall Street Finds Profits by Reducing Mortgages
- Start-Up Proves Everything Really Is Better With Bacon
- CNBC VIDEO: Warren Buffett & Bill Gates 'Walk & Talk' at Columbia University
- Kraft Weighs Higher Cadbury Bid as Rivals Circle
- China Asks Its Banks to Slow Down
- China Should Stop Property Stimulus Now: Central Bank
- China Industrial Bank Eyes $2.64 Billion Rights Issue
- JPMorgan's Dimon Could Succeed Geithner: Report
Text Size 
Homebuilder Hovnanian Enterprises said its weekend sales blitz on some of its hottest real estate properties was a clear success but exact figures are yet to be determined.
"It has been phenomenally successful," said Doug Fenichel, head of public relations for Hovnanian's Northeast region.
 |
CNBC.com |
"The number of people visiting our centers was in the thousands, and that was just in New Jersey," he said. "We knew people were ready to buy and many people found deals they liked and are buying homes."
Fenichel added that all of the company's properties in Parsippany, N.J. were completely sold out over the weekend. The company expects to have more details on the numbers of homes sold by Tuesday, the spokesman said.
The sale, announced on Sept. 5, started at 9 a.m. Friday and ending at 9 p.m. Sunday, involved thousands of homes in 19 states and was promoted by the company in radio and print ads as the "Deal of the Century."
Hovnanian currently does not have plans to conduct a similar sale in the future, according to Fenichel.
"We're always trying to provide value, but this was called the deal of the century because it was a one-time shot," Fenichel said. "We needed to give people a little push to get them in and tomorrow prices go back to normal."
RELATED LINKS
- Hovnanian Says Weekend Home Sale a Success
- Realty Check: Hovnanian Numbers In, Why The Media Blame Game?
- Realty Check: Hovnanian's Fire Sale: Fanning The Flames Of Home Buyers?
- Hovnanian Stages Weekend Fire Sale of Luxury Homes
- Video: Housing and the Fed
- Countrywide Caught in Mortgage Spiral
- Realty Check with Diana Olick
Tight credit, fueled by a meltdown in the subprime mortgage industry this year, has sidelined potential buyers who were already wary following years of escalating home prices.
Hovnanian [HOV
Loading...
()
] recently reported a quarterly loss of $1.27 a share, compared with a profit of $1.15 a share in the same period last year.
Print
Email
- Warren Buffett and Bill Gates discuss the economy and other subjects with CNBC's Becky Quick.
- The show attracts a big TV audience every year, but this year it may take on even more importance.
- …you'll want to be prepared. Tips for getting the most out of the post-Thanksgiving shopping frenzy.
- Congressman Ron Paul explains to Squawk Box why he’s pushing legislation to audit the Federal Reserve.
- A Macau casino will open Asia's first Michael Jackson shrine after its owners made a key purchase at a US auction.
- CNBC’s technology reporter Jim Goldman guides you through the best gadgets to buy this holiday season.
Data is a real-time snapshot *Data is delayed at least 15 minutes